Russia could extend the timeline for its oil production growth by at least five to seven years and attract “several hundred billion rubles” in additional investment into its oil industry Continue Reading
Russian Energy Minister Alexander Novak said on Tuesday that comments and social media posts on Twitter by the U.S. leadership caused confusion on global markets. “The emotional flashes, comments, tweets, Continue Reading
Russia and Saudi Arabia struck a private deal in September to raise oil output to cool rising prices and informed the United States before a meeting in Algiers with other Continue Reading
Iran accused Saudi Arabia and Russia on Wednesday of breaking OPEC’s agreement on output cuts by producing more crude, adding that the two countries would not be able to produce Continue Reading
Qatar’s energy minister defended the oil market strategy of his country and other OPEC nations Tuesday. “OPEC is not trying to manipulate the price. It’s trying to bring the market Continue Reading
Global energy bosses assembled in Moscow on Wednesday said the world needed Russian gas to keep the lights on, in a clear message to U.S. President Donald Trump who has Continue Reading
The Organization of the Petroleum Exporting Countries and other leading oil producers can quickly agree on oil output increase if needed, Russian Energy Minister Alexander Novak was quoted as saying Continue Reading
Gazprom is an important player in the European gas market for two reasons. Its monopoly status in Russia when it comes to exporting natural gas through pipelines and limited transportation Continue Reading
US sanctions on Iran may cause oil prices to rise further, Russian energy minister Alexander Novak warned Wednesday, even as he said his country was prepared to increase its production Continue Reading
Russia may be pumping oil at close or above post-Soviet high levels, but because of transportation constraints, it can’t significantly increase its oil supply to Asia, where the loss of Continue Reading
